BLS - U.S. Bureau of Labor Statistics

04/24/2024 | Press release | Distributed by Public on 04/24/2024 09:52

Tennessee Job Openings and Labor Turnover — February 2024

Tennessee had 184,000 job openings in February 2024, compared to 200,000 openings in January, the U.S. Bureau of Labor Statistics reported today. (See table 1.) Regional Commissioner Victoria G. Lee noted that the job openings rate in Tennessee was 5.3 percent in February and 5.7 percent in the previous month. (See chart 1 and table 2.) The job openings rate nationally was 5.3 percent in February, unchanged from January. (See table 3.) All data in this release are seasonally adjusted.

The ratio of unemployed persons per job opening in Tennessee was 0.6 in February. Nationwide, 31 states and the District of Columbia had ratios in February that were lower than the national measure of 0.7 unemployed persons per job opening; 13 states had ratios that were higher than the national ratio, and 6 states had ratios equal to the national measure. (See map 1.)

Map 1. Number of unemployed persons per job opening by state, February 2024, seasonally adjusted

(U.S. ratio = 0.7)

In February, Tennessee had 174,000 hires and 143,000 separations, compared to 139,000 hires and 116,000 separations in January. (See chart 2.) Over the 12 months ending in February, hires have averaged 153,000 per month and separations have averaged 141,000 per month. These averages include workers who may have been hired and separated more than once during the year.

View Chart Data

Among the February separations in Tennessee, 85,000 were quits and 50,000 were layoffs and discharges, compared to 80,000 quits and 28,000 layoffs and discharges in January. (See chart 3.) Over the last 12 months, quits averaged 96,000 per month, ranging from 80,000 to 122,000. Layoffs and discharges have averaged 38,000 per month, ranging from 28,000 to 53,000.

View Chart Data

State Job Openings and Labor Turnover Survey estimates for March 2024 are scheduled to be released on Friday, May 17, 2024, at 10:00 a.m. (ET).

Upcoming Revisions to the JOLTS State Estimates

Effective with the release of May 2024 data on July 24, 2024, the Job Openings and Labor Turnover Survey (JOLTS) state estimates will be benchmarked and revised, to include the annual benchmark revisions to JOLTS national estimates, the Current Employment Statistics (CES) employment estimates, and the Quarterly Census of Employment and Wages (QCEW) data. Seasonally adjusted and not seasonally adjusted data from January 2019 forward are subject to revision. In addition, 2023 annual estimates for states will be released at this time.


Technical Note

This news release presents statistics from the Bureau of Labor Statistics' Job Openings and Labor Turnover Survey (JOLTS). The JOLTS program provides information on labor demand and turnover. The state estimates produced by JOLTS are model-based, incorporating JOLTS sample, Quarterly Census of Employment and Wages (QCEW), and Current Employment Statistics (CES) estimates. For more information see the JOLTS State Estimates Methodology.

Job Openings. Job openings include all positions that are open on the last business day of the reference month. A job is open only if it meets all three of these conditions:

  • A specific position exists and there is work available for that position.
  • The job could start within 30 days.
  • The employer is actively recruiting workers from outside the establishment to fill the position.

The number of unemployed persons per job opening is a ratio of the level of unemployed persons and the level of job openings. The number of unemployed persons at the national level is an estimate from the Current Population Survey (CPS), while state-level unemployment estimates are modeled by the Local Area Unemployment Statistics (LAUS) program. A ratio of 1.0 means there is a job available for every unemployed person. Lower ratios signal tighter labor markets, where firms have more job openings than there are unemployed persons available to work. Higher ratios indicate there are more unemployed persons competing for each job opening.

Hires. Hires include all additions to the payroll during the entire reference month.

Separations. Separations include all separations from the payroll during the entire reference month and is reported by type of separation: quits, layoffs and discharges, and other separations.

  • Quits include employees who left voluntarily, except for retirements or transfers to other locations.
  • Layoffs and discharges include involuntary separations initiated by the employer.
  • Other separations include retirements, transfers to other locations, separations due to employee disability, and deaths.

Levels and rates of other separations represent a small portion of total separations and are not published with the release of state estimates.

Complete definitions, including exclusions, and additional information about the State JOLTS data presented in this release are available in the State Job Openings and Labor Turnover Technical Note.

Information in this release will be made available to individuals with sensory impairments upon request. Voice phone: 202-691-5200; Telecommunications Relay Service: 7-1-1.

Estimate February 2023 November 2023 December 2023 January 2024 February 2024 Change from January 2024 to February 2024

Openings

255 207 212 200 184 -16

Hires

145 130 155 139 174 35

Total separations

148 131 139 116 143 27

Quits

105 85 92 80 85 5

Layoffs & discharges

34 38 38 28 50 22

Estimate February 2023 November 2023 December 2023 January 2024 February 2024 Change from January 2024 to February 2024

Openings

7.2 5.9 6.0 5.7 5.3 -0.4

Hires

4.4 3.9 4.7 4.2 5.2 1.0

Total separations

4.5 4.0 4.2 3.5 4.3 0.8

Quits

3.2 2.6 2.8 2.4 2.6 0.2

Layoffs & discharges

1.0 1.1 1.2 0.8 1.5 0.7

Estimate February 2023 November 2023 December 2023 January 2024 February 2024 Change from January 2024 to February 2024

Openings

6.0 5.4 5.3 5.3 5.3 0.0

Hires

3.9 3.5 3.7 3.6 3.7 0.1

Total separations

3.8 3.4 3.4 3.5 3.5 0.0

Quits

2.6 2.2 2.2 2.2 2.2 0.0

Layoffs & discharges

1.0 1.0 1.0 1.0 1.1 0.1